Free ICMA SOFQ Practice Test & Real Exam Questions

Question #11

The calculation of profit and loss for securities includes:

A. Realised (potential) P&Land Unrealised (actual) P&L

B. Realised (projected) P&L and Unrealised (authentic) P&L

C. Realised (predicted) P&L and Unrealised (likely) P&L

D. Realised (actual) P&Land Unrealised (potential) P&L

Discussion 0

Correct Answer: D Vote an answer

Question #12

From the perspective of one party to a securities trade, Free of Payment settlement without risk means:

A. Delivering an asset to the counterparty prior to receipt of the contra asset from the counterparty

B. Receiving the counterparty's asset before instructing release of the contra asset

C. Delivering an asset to the counterparty following successful exchange of trade confirmations

D. Simultaneously exchanging securities and cash with the counterparty

Discussion 0

Correct Answer: B Vote an answer

Question #13

The date on which a securities trade is intended to settle is:

A. The value date

B. The actual settlement date

C. The contractual trade date

D. The trade date

Discussion 0

Correct Answer: A Vote an answer

Question #14

The abbreviation WAC stands for:

A. Wait About Control

B. Weighted Average Cost

C. West Against Charge

D. Wheel and Calculate

Discussion 0

Correct Answer: B Vote an answer

Question #15

Where Firm A has borrowed a fixed cash amount on a secured basis from Firm B, an increase in the collateral value means that:

A. FirmB has exposure and must request additional collateral from Firm A

B. Firm B has exposure and must request the return of collateral from Firm A

C. Firm A has exposure and must return some collateral to Firm B

D. Firm A has exposure and must request the return of some collateral from Firm B

Discussion 0

Correct Answer: D Vote an answer

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